Banc Of California And PacWest Shares Volatile On Merger Announcement

A Pacific Western Bank sign is seen on May 4, 2023, in Los Angeles, California.PacWest will merge into Banc of California, and Banc of California, N.A. will merge into Pacific Western Bank, under the terms of the merger agreement. DAVID MCNEW/GETTY IMAGES.

Banc of California, Inc. (NYSE: BANC) and PacWest Bancorp (NASDAQ: PACW) shares were volatile in after-hours trading Tuesday after a merger between the companies was announced. 

The Banc Of California, PacWest Deal: The companies signed a definitive agreement through which they will combine in an all-stock merger transaction.
PacWest will merge into Banc of California, and Banc of California, N.A. will merge into Pacific Western Bank, under the terms of the agreement.